Financial Performance - Revenue for the first quarter ended September 30, 2019, was SGD 2,110,216, representing a 30.1% increase from SGD 1,622,891 in the same period of 2018[5] - Gross profit for the same period was SGD 709,631, up from SGD 500,184, indicating a gross margin improvement[5] - Profit before tax surged to SGD 235,597, compared to SGD 35,271 in the prior year, reflecting a significant growth of 570.5%[5] - Net profit for the quarter was SGD 229,671, a substantial increase from SGD 27,344 in the previous year, marking an increase of 740.5%[5] - Basic and diluted earnings per share rose to SGD 0.03, compared to SGD 0.003 in the same quarter of 2018[7] - Total comprehensive income for the period was SGD 229,634, significantly higher than SGD 27,344 in the previous year[7] Expenses and Costs - Administrative expenses increased to SGD 597,379 from SGD 498,533, reflecting a rise of 19.9%[5] - Total employee costs, including directors' remuneration, amounted to SGD 845,013, an increase from SGD 764,483 in the previous year[39] - Financial costs related to bank borrowings were SGD 9,255, a decrease from SGD 11,783 in the same period of 2018[35] - Cost of sales/service rose by approximately SGD 0.3 million or 24.8% to about SGD 1.4 million, attributed to increased materials purchased and subcontractor hiring[58] - Administrative expenses rose by approximately SGD 98,900 or 19.8% to about SGD 597,400, primarily due to increased labor costs[62] - Financial costs decreased by approximately SGD 2,500 or 21.4% to about SGD 9,300, mainly due to repayment of mortgage principal[63] - Income tax expenses decreased by approximately SGD 2,000 or 25.2% to about SGD 5,900, mainly due to prior year overprovision[65] Revenue Sources - The company’s total revenue from audio and communication system sales and related services was SGD 1,676,268, showing a substantial increase from SGD 986,651 in the previous year[31] - Other income for the quarter was SGD 24,500, compared to SGD 19,743 in the same period last year, showing a growth of 24.5%[5] - Other income increased by approximately SGD 87,200 or 192% to about SGD 132,600, mainly due to foreign exchange gains from currencies other than SGD[61] Shareholder Information - The total equity attributable to equity shareholders increased to SGD 14,851,464 as of September 30, 2019, up from SGD 14,701,587 at the end of the previous year[10] - The company has not declared or paid any dividends during the period, consistent with the previous year[48] - As of September 30, 2019, Express Ventures holds 407,700,000 shares, representing 50.96% of the company's equity[89] Strategic Plans and Market Outlook - The company plans to expand its personnel and machinery resources to enhance bidding capabilities for future projects and aims to increase its customer base and market share[52] - The company is cautiously optimistic about business expansion opportunities in Singapore and the Asia-Pacific region[55] - The company is exploring and evaluating potential large-scale projects in Singapore's audio and communication systems sector[74] - The company is actively seeking large-scale potential projects that require performance guarantees[74] Corporate Governance - The company is committed to high standards of corporate governance to enhance confidence among shareholders and stakeholders[102] - An audit committee was established on December 14, 2017, consisting of three independent non-executive directors, responsible for reviewing financial statements and internal controls[104] - The unaudited first-quarter results have not been reviewed by the independent auditor but were reviewed by the audit committee members[104] Miscellaneous - The company has not reported any significant events after the reporting period[78] - The company has postponed the acquisition of a truck due to varying project requirements[74] - The company has delayed plans to establish a new sales office in Singapore due to current industry client demands[74] - The company is currently reviewing its project portfolio and has postponed steps to meet the minimum financial requirements for the "L6" level in mechanical and electrical trades until April 2020[74] - The company confirmed that it maintained sufficient public float as per GEM listing rules during the relevant period[96] - No direct or indirect competition or conflicts of interest were reported by directors or major shareholders during the relevant period[97] - The company has not purchased, sold, or redeemed any of its listed securities during the relevant period[100] - The company adopted a share option scheme on December 14, 2017, but no options have been granted under this scheme since its adoption[101] - The exchange rate used for conversion is 1 Singapore Dollar to 5.85 Hong Kong Dollars[106] - The report will be published on the GEM website and the company's website for at least seven days from the publication date[108]
ISP GLOBAL(08487) - 2020 Q1 - 季度财报